Updates, advisories and surprises

(4:36 PM ET) SAN FRANCISCO (MarketWatch) -- Schlumberger Ltd.
SLB, -2.93%
on Thursday reported fourth-quarter earnings that beat Wall Street expectations on record revenue in North America due to efficiencies and new technology. The oil-field services giant said fourth-quarter adjusted earnings came to $1.50 a share, compared with consensus of $1.45 a share, according to FactSet, and earnings of $1.35 a share in the fourth quarter of 2013. Fourth-quarter sales rose 6% to $12.6 billion, in line with analyst expectations. The company said it will raise its dividend by 25%, paying 50 cents a share on April 10, 2015 to shareholders of record as of Feb. 11. Shares of the company rose 0.8% in after-hours, after ending Thursday down 2.3%.

(4:29 PM ET) NEW YORK (MarketWatch) -- Tessera Technologies
TSRA
raised its 2015 outlook for recurring revenue to $235 million from $195 million, after the technology licensing company said it agreed to settle all pending litigation between its Tessera Inc. subsidiary and Amkor Technology
AMKR, -0.68%
As part of the agreement, Tessera will be paid a total of $155 million, in 16 equal quarterly installments starting in the first quarter of 2015. "This settlement puts our disputes behind us, and opens the door for Amkor and Tessera to have technical collaboration discussions on advanced packaging technologies," said Chief Executive Tom Lacey. Tessera's stock was unchanged in after-hours trade, while Amkor shares fell 0.8%.

Intel outlook slightly below expectations

(4:19 PM ET) NEW YORK (MarketWatch) - Intel
INTC, -0.74%
reported record fourth-quarter revenue late Thursday that matched Wall Street expectations, while indicating that first-quarter sales could be slightly below. The company reported sales of $14.7 billion, a 6% year-over-year improvement from $13.8 billion a year ago. It posted net income of $3.7 billion, or 74 cents a share, compared with $2.6 billion, or 51 cents, in the year-earlier period. Analysts in a FactSet poll were calling for adjusted earnings of 71 cents. For the first quarter, Intel is anticipating sales of $13.7 billion, plus or minus $500 million, compared with the FactSet consensus of $13.8 billion. Shares of Intel fell 2.5% to $35.44 in after-hours trade.

Best Buy's stock tumbles after downbeat sales outlook

(7:15 AM ET) NEW YORK (MarketWatch) -- Best Buy's stock
BBY, -7.02%
tumbled 8.4% in premarket trade Thursday, after the consumer electronics retailer said it didn't expect the improvement in sales seen during the holiday period to extend into the new year. For the nine-week period ending Jan. 3, 2015, revenue rose to $11.37 billion from $11.13 billion a year ago, while domestic same-store sales increased 2.6%. Chief Financial Officer Sharon McCollam believes the positive holiday-period sales trends "were partially driven by the excitement around high-profile products and will not likely continue at holiday levels." She expects same-store sales in the first half of fiscal 2016 to be flat to down in the low-single-digit percentage range. The stock has run up 29% over the past three months through Wednesday, compared with an 8% gain in the S&P 500.

Bank of America shares fall as profit, revenue decline

(7:11 AM ET) NEW YORK (MarketWatch) -- Bank of America Corp. shares
BAC, -0.85%
fell 2.1% in premarket trade after the bank reported lower fourth-quarter profit and revenue. The bank said it had net income of $3.1 billion, or 25 cents a share, in the quarter, down from $3.4 billion, or 29 cents a share in the year-earlier period. The results included adjustments that lowered per-share earnings by 7 cents, the bank said in a statement. However, about $720 million of the decline was due to lower gains from the sale of debt securities and equity investment income, as well as lower mortgage banking income and lower trading profits. Revenue fell to $19 billion from $21.7 billion. The FactSet consensus was for EPS of 31 cents and revenue of $21.079 billion. Shares have gained 1.9% in the last three months, while the S&P 500 has gained about 8%.

BlackRock beats profit expectations, lifts dividend

(6:54 AM ET) NEW YORK (MarketWatch) -- BlackRock
BLK, -0.46%
reported on Thursday a fourth-quarter profit that beat expectations, as long-term inflows rose sharply, and raised its quarterly dividend, although revenue fell shy of forecasts. For the quarter ended Dec. 31, net income slipped to $821 million, or $4.82 a share, from $851 million, or $4.92 a share, in the year-earlier period. Analysts surveyed by FactSet were expecting, on average, earnings per share of $4.69. Long-term net inflows rose 55% to $181 billion, while revenue inched up to $2.79 billion from $2.78 billion, compared with analyst forecasts of $2.87 billion. The asset manager raised its quarterly dividend by 13% to $2.18 a share. The stock, which was still inactive in premarket trade, has rallied 11% over the past three months through Wednesday, while the S&P 500 has gained 8%.

Lennar shares rise as earnings beat; home builder optimistic

(6:25 AM ET) MADRID (MarketWatch) -- Lennar Corp.
LEN, -0.41%
on Thursday reported higher earnings and sales, and said the outlook for the recovery for home building remains good. In the fourth quarter, Lennar said it earned $1.07 a share, versus 73 cents in the year-ago quarter. Revenue rose to $2.583 billion from $1.915 billion in the year-ago period. Analysts polled by FactSet Research expected the company to earn 96 cents on sales of $2.579 billion. As well, Lennar said new orders for homes rose 22% in the period and the backlog for homes was up 21%. Gross margin on home sales improved 40 basis points from the third quarter. "While a number of macroeconomic factors have contributed to ongoing choppiness in the recovery, with more pressure on sales prices and gross margins, we remain optimistic about the continuation of the recovery," said Stuart Miller, chief executive officer of Lennar Corp. Shares of Lennar rose 1.6% in premarket trading.

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